Springstone, which was founded in 2007, has established
connections with more than 14,000 schools and health-scare
providers. Last year, the company brokered $340 million in loans
for elective medical procedures, tutoring and private education.

“The acquisition of Springstone is significantly expanding the
services we offer to help consumers achieve their goals,” said
Lending Club CEO Renaud Laplanche, in a written statement.

To pay for the acquisition, Lending Club also announced it raised
$65 million in new equity and $50 million in debt financing.
Lending Club launched in 2007 and has brokered more than $4
billion in personal loans for 250,000 consumers.